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The Reserve Bank of India unexpectedly held its policy rate, and USD/INR fell about 0.5% on the day. Credit Suisse cut its three-month USD/INR forecast from 68.5 to 67.4 and kept its twelve-month forecast at 69.50.
The bank sees downside risks to its forecast.
The hawkish hold and lower forecast point to a firmer rupee in the near term, which reduces the rupee cost of dollar-priced feed imports into India. Credit Suisse's twelve-month view still implies later weakness.
exchangerates.org.ukJoel WrightFeb 14, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
